Fidelity Money Market Fund: Premium Class
FZDXX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Apr 6, 2015
- CIK
- 0000917286
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Money Market Fund: Premium Class (FZDXX), a prime money market fund within Fidelity Hereford Street Trust, seeks a high level of current income consistent with the preservation of capital and liquidity. The fund invests primarily in U.S. dollar-denominated money market securities of domestic and foreign issuers, including repurchase agreements, commercial paper, certificates of deposit, time deposits, and other short-term obligations; it normally invests more than 25% of total assets in the financial services industry and maintains compliance with industry-standard regulatory requirements for money market funds regarding quality, maturity, liquidity, and diversification, with a typical average portfolio maturity of less than 60 days. It offers features such as same-day settlement, check-writing privileges for eligible accounts, real-time transaction capabilities, and automated sweep services through Fidelity's online platform and mobile app for brokerage and retirement accounts. The fund targets institutional and high-net-worth investors, with a minimum initial investment of $100,000, and maintains a net asset value stable at $1.00 per share. Fidelity Investments, the fund's investment manager since inception, was founded in 1946 and is headquartered in Boston, Massachusetts; the company operates globally, serving retail, institutional, and advisory clients across mutual funds, brokerage services, retirement plans, and wealth management. The Premium Class shares of the fund were launched on April 6, 2015, with a gross expense ratio of 0.36% and net expense ratio of 0.30%, supported by a contractual expense cap. The fund holds approximately 330 positions, including significant allocations to cash equivalents (over 70%), government securities, and convertibles, earning ratings such as AAAm from S&P and Aaa-mf from Moody's. In recent developments, the fund has sustained stable monthly dividend distributions, with yields around 4.3% annually as of late 2025 (e.g., $0.00351 per share ex-date August 29, 2025), reflecting adjustments to prevailing short-term interest rates amid ongoing Federal Reserve policy influences, though showing a 1-year dividend growth decline of 16.93%. No major acquisitions, partnerships, new product launches, or structural reorganizations specific to FZDXX have been reported in the last 1-2 years; however, Fidelity Investments continues to emphasize money market enhancements for liquidity management in brokerage cores, with ongoing portfolio compliance updates including weighted average maturity monitoring and liquid asset requirements (daily at least 25%, weekly at least 50%). The fund remains positioned for institutional cash management amid stable NAV performance (YTD return approximately 0.68% as of early 2025).